Too much overdependency on one market amounts to be too much of an opiate infusion for the body. In fact in spite of many plans of containing the gigantic potential threat from the north, some Ozzies are starting to believe real estate prices will drop 50% in the coming months becos of the drop in its demands.

It should be interesting if possible, show the exportations from China to these countries. For the late called third world countries is a little bit strange, onde it was usually dependent from US / Europe axis, suddenly become sinodependent.

It does not matter much to UK as it can only huff and puff only export pigs to China. But to France and especially Germany, it is a totally different story.
Angel Merkel is currently on visit to China to make sure the trade momentum continues between the two countries. German technology, toolings, engines are going into the heart of a vast array of China made products ranging from autombiles, industrial trucks,buses,tanks, etc.

As always, journalists can sell a story if they hype it up:
Show China as a threat, and your sales go up in the US and W Europe
Agree that heatmap (as usual) does not give the full picture!
balanced picture, China matters for some countries, regions (Africa) and exporters of certain commodities!
Some are jealous of the political component: Hu Jintao in France just now with shopping list. If interested read my thesis at Oxford 1989: political element in China's foreign trade (unpublished)

Addis Voice wrote: Oct 29th 2010 1:16 GMT
China picks what the west has abandoned. take Africa, for instance. The west use all kind of pretext to ignore Africa. Well, china approached with silence....and did its job.

Good and bad here - China has no choices - the stable countries are not enough , so it has to go unstable countries. However this is doing some real good - example is Ethiopia.. One of the more stble countries of Africa, will now acquire some core stability , with Chinese investment.

China has done some good out there, although one wonders if it is only selfishness.

And i am also old enough to remember, how us australians dependend so much on Japan, until China came along. the drop in japanese growth sent us to the 'Soul Searching land' But made no difference

What was different, was that in the veruy early 90's I used to get the feeling that the normally timid Japanese had acquired an air of arrogance about them , and there was all this outpouring of books about the might and superiority of the japanese.

Clearly The Economist has been missing a major point about China. The western governments (mainly US') fiscal policy made western businesses uncompetitive with the Chinese when it comes to competing for global contracts and assets. "Currency risk: a China's advantage" explains why it is so.

"wow, isn't that a war map, the middle kingdom is attacked by nations from all over the world! lol"
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Well, it seems to me that’s because this Economist piece is timed to the G20 summit soon to be held in Korea, and ASEAN + 1 and ASEAN + 3 now in session in Vietnam, with the US (Mrs. Clinton) attending as an “observer”.

Although not officially on the agenda, the feuding on RMB currency revaluation and the aligning effort of Japan, India and Vietnam as a block for South China Sea issues is very much in the US hawking there.

With Chinese President to visit France and Portugal and the US President to Japan and India, all in November, the push is getting intense, and so is the tenor of this article playing its bit part.

It’s sure no mystery that when the Economist articles like “May the Good China Save US” published in the height of world financial crisis where China was portrayed to matter a lot more than it is now.

China picks what the west has abandoned. take Africa, for instance. The west use all kind of pretext to ignore Africa. Well, china approached with silence....and did its job. We can argue on the manner or consequence of the relation. The bottom line is, China matters a lot for the west, east, south or north.

ericyangminmin. weakening the dollar against other currencies will not help in the long run. The added export competitiveness will quickly be reduced due to high inflation in the US dollar market and increased producer prices and rising wages.

A competitive devaluation never worked. Look at Italy, Greece and Portugal. These economies lived of competitive devaluation of their currency. It doesnt seem it worked very well in making them competitive, it just delayed necessary reform.

Crikey crumbs, nowt to worry about then huh? Someone better tell Washington all’s well, Geithner needs to chill, get off off the baby gorilla’s back (it will be a monster in ten years). As there is not a hope in hell of the UK and US being able to take part in this glorious scenario by exporting cheap manufacture, all we have is services...will they ever open up enough for them though? Not any time soon that is for sure.

Exports as a share of GDP may be small, but there are much more important indirect effects on demand including consumption and consumer confidence. Exports affect trade generally and capacity to import which has impact on consumer prices. Exports also generate income taxes which facilitate government spending and capacity to stimulate.